German Efromovich Will Put Brazilian Shipyards Up for Sale for $1 Billion


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German Efromovich Will Put Brazilian Shipyards Up for Sale for $1 Billion

Synergy Group Corp. Is Looking to Unload Its Two Shipyards in Rio de Janeiro

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SÃO PAULO—Synergy Group Corp. is looking to sell its Brazilian shipyards unit for $1 billion, exiting a business that has struggled to recover from a soured deal with the Venezuelan government.
The Rio de Janeiro-based conglomerate, which is owned by businessman Germán Efromovich, furloughed the shipyard's 3,200 workers in early June and halted production for lack of cash, according to Omar Peres, an adviser to Mr. Efromovich.
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